Allscripts Healthcare Solutions Inc. (MDRX) Shares Up 3.4%
Shares of Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX) shot up 3.4% on Wednesday . The stock traded as high as $13.25 and last traded at $13.22, with a volume of 1,478,016 shares changing hands. The stock had previously closed at $12.78.
Several research firms have weighed in on MDRX. Robert W. Baird reaffirmed a “buy” rating on shares of Allscripts Healthcare Solutions in a research report on Sunday, May 8th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Allscripts Healthcare Solutions in a research report on Sunday, April 17th. Zacks Investment Research raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. Citigroup Inc. boosted their price target on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, May 13th. Finally, Jefferies Group reissued a “buy” rating on shares of Allscripts Healthcare Solutions in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Allscripts Healthcare Solutions currently has an average rating of “Buy” and an average price target of $15.86.
The company’s 50-day moving average is $12.95 and its 200-day moving average is $13.31. The company has a market capitalization of $2.59 billion and a price-to-earnings ratio of 261.1340.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $346 million for the quarter, compared to analyst estimates of $348.51 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that Allscripts Healthcare Solutions Inc. will post $0.58 earnings per share for the current fiscal year.
In other news, CEO Paul Black sold 15,000 shares of Allscripts Healthcare Solutions stock in a transaction on Monday, June 13th. The shares were sold at an average price of $13.04, for a total transaction of $195,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,197,329 shares in the company, valued at $15,613,170.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James Hewitt sold 17,500 shares of Allscripts Healthcare Solutions stock in a transaction on Friday, July 1st. The stock was sold at an average price of $13.00, for a total transaction of $227,500.00. Following the sale, the senior vice president now owns 175,604 shares of the company’s stock, valued at $2,282,852. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Quantitative Investment Management LLC increased its position in Allscripts Healthcare Solutions by 143.7% in the fourth quarter. Quantitative Investment Management LLC now owns 69,200 shares of the company’s stock worth $1,064,000 after buying an additional 40,800 shares in the last quarter. Profund Advisors LLC increased its position in Allscripts Healthcare Solutions by 39.7% in the fourth quarter. Profund Advisors LLC now owns 102,314 shares of the company’s stock worth $1,574,000 after buying an additional 29,087 shares in the last quarter. Systematic Financial Management LP acquired a new position in Allscripts Healthcare Solutions during the fourth quarter worth about $1,814,000. Liberty Mutual Group Asset Management Inc. increased its position in Allscripts Healthcare Solutions by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 121,760 shares of the company’s stock worth $1,872,000 after buying an additional 41,298 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Allscripts Healthcare Solutions by 1.5% in the fourth quarter. American Century Companies Inc. now owns 217,917 shares of the company’s stock worth $3,352,000 after buying an additional 3,293 shares in the last quarter.
Allscripts Healthcare Solutions, Inc delivers information technology (IT) and services to help healthcare organizations in clinical, financial and operational results. The Company operates through two segments: Clinical and Financial Solutions, and Population Health. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions, which primarily include electronic health record (EHR)-related software, financial and practice management software, related installation, support and maintenance, outsourcing, hosting, revenue cycle management, training and electronic claims administration services.
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